Sir, – Milton Freedman once wrote, “There is one and only one social responsibility of business, that is to increase its profits so long as it stays within the rules of the game.” Recent events, in particular the egregious conduct of Volkswagen, show us the underbelly of corporate attitudes to these rules and their skill set in breaking them or avoiding them.
This approach appears to be widespread and indicates an absence of any sense of ethical behaviour in pursuit of profit at the expense of social responsibility.
Even in our own country the banking scandals, together with the apparently legitimate use of Luxembourg’s tax laws to avoid billions of euro of otherwise taxable income, is an affront to an normal interpretation of what is both right and acceptable.
At a time when the traditional guardians of morality, the churches, have lost some of their authority perhaps our President, who is deservedly admired for his independence and integrity, might renew his attempt to encourage an ethical and moral consensus on the standards and behaviour to which we are entitled from our business and indeed political elite. – Yours, etc,
EAMONN MANSFIELD,
Helvick,
Ring,
Co Waterford.